In some top-secret development, Walt Disney Co. has entered preliminary discussions with potential buyers for its India streaming and television business. Among the interested parties are prominent billionaires Gautam Adani and Kalanithi Maran. This move comes as Disney contemplates various options for its Indian operations, which could involve selling some of the unit’s assets, including sports rights and of course Disney Hotstar.
Disney’s senior executives have also engaged with private equity funds, recognising the need to explore multiple avenues for their India-based business. These discussions have remained confidential, with sources close to the matter providing insights.
Previously, asset-sale talks were held with Reliance Industries Ltd., headed by Asia’s wealthiest individual, Mukesh Ambani, as reported by Bloomberg News. Disney has been actively assessing strategic options for its Indian venture, including a possible outright sale or establishing a joint venture. This reevaluation came in the wake of Disney losing its streaming rights to the Indian Premier League cricket tournament to Viacom18 Media Pvt., a joint venture between Reliance, Paramount Global, and Uday Shankar’s Bodhi Tree Systems.
A potential acquisition could align well with Maran’s broadcasting company, Sun TV Network Ltd., while for the Adani Group, it could complement its recently acquired New Delhi Television Ltd. Despite these discussions, it’s essential to note that these deliberations are still at a very preliminary stage, and any deal may not materialize.
Representatives for Disney in India have declined to comment on these developments. So have the other parties.
These discussions regarding the potential sale of Disney’s India unit highlight the havoc caused by the aggressive entry of Reliance.
In response, Disney is now employing a similar strategy by streaming the ongoing Cricket World Cup in India for free, aiming to regain subscribers even at the expense of short-term revenue in cricket-loving India.
In summary, Disney’s exploration of a potential sale of its India streaming and TV business signals the dynamic changes occurring in the Indian media and entertainment landscape. With major players like Reliance disrupting traditional norms, Disney is evaluating its options. Stay tuned for official updates as it will get spicy with Adani Vs Ambani.
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